LPG Ship Rates Post Biggest-Ever Weekly Gain on U.S. Cargoes
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The cost of shipping liquefied petroleum gas had the biggest weekly gain on record as surging U.S. exports of the cooking fuel and chemicals feedstock sap vessel supply.
Rates for very large gas carriers jumped 28 percent to $70.50 a metric ton since May 10, according to the Baltic Exchange, the London-based publisher of shipping prices on more than 50 maritime routes. That’s the largest weekly rally in data going back to 2005, figures show.